DAPA chief sees 50-50 chance for Seoul's bid for Canadian submarine deal

▲ Lee Yong-cheol, chief of the Defense Acquisition Program Administration, speaks in a meeting with reporters in Seoul on March 19, 2026, in this photo provided by his office the following day. (PHOTO NOT FOR SALE) (Yonhap)

DAPA chief-Canada

DAPA chief sees 50-50 chance for Seoul's bid for Canadian submarine deal

By Lee Minji and Kim Hyun-soo

SEOUL, March 20 (Yonhap) -- The chief of South Korea's defense procurement agency said he forecasts a 50-50 probability of South Korea winning a major bid to supply naval submarines to Canada, saying Seoul has done its best and the die has been cast.

The assessment by Lee Yong-cheol, chief of the Defense Acquisition Program Administration (DAPA), came as a South Korean consortium is vying with Germany's Thyssenkrupp Marine Systems to win orders for all 12 submarines to be commissioned by Canada.

"The chances are 50-50, and of course, I don't know the answer," Lee told defense press corps reporters Thursday. "We have done our best and will wait until the result comes out."

As part of efforts to win the project, valued at around 60 trillion won (US$40 billion), relevant government ministries, including the defense, foreign and industrial ministries, as well as the Navy, and defense firms Hanwha Ocean Co. and HD Hyundai Heavy Industries Co., signed an official document last month confirming government support for the bid.

Lee still recalled his meeting with senior Canadian officials who visited South Korea as showing great interest in the operation and maintenance of submarines.

"Based on conversations, their interest in (submarine) operation and maintenance was very high, and to ensure such capabilities, detailed requests were made on technology transfers," the DAPA chief said.

"At least, this shows that Canada is seriously considering the possibility of partnering with South Korea, so this is not bad," Lee said, although adding that similar efforts could be under way on the German side and it would be "hasty" to make a judgment only based on such conversations.

As South Korea seeks to become the world's fourth-largest defense exporter, Lee acknowledged that it is a "challenging" but "not an impossible" goal, striking a positive note on accomplishing it.

"Considering the trend, I cannot make a rapid promise that we will achieve it next year, but I believe the environment itself is not bad," Lee said.

"If the Canadian submarine project is successful, the underlying environment will change. But even excluding it ... we are at least expected to reap similar results compared with the previous year," he added.

South Korea aims to export $20 billion worth of arms products and diversify export destinations to account for 6 percent of the global market by 2030.

Last year, the country's arms exports exceeded $15 billion, snapping two straight years of decline, backed by a sharp rise in exports of key weapons systems, such as the K9 self-propelled howitzer and the K2 battle tank.

(END)

(C) Yonhap News Agency. All Rights Reserved